Home Remodeling Global Market Report 2024

Description

“Home Remodeling Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on home remodeling market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for home remodeling? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The home remodeling market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Type: Do-It-Yourself (DIY); Do-It-For-Me (DIFM)
2) By Distribution Channel: Online; Offline
3) By Application: Windows And Doors; Kitchen And Bathroom; Floor And Roof; Walls; Other Applications
4) By End-Use: Residential; Commercial
Companies Mentioned: Andersen Corporation; JELD-WEN Holdings Inc.; Kohler Co.; Pella Corporation; The Home Depot Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Home remodeling constitutes the process of enhancing or refurbishing an existing residential structure that may be deteriorated, outdated, or no longer fulfilling the homeowner's requirements. It entails the creation of something new.

The primary categories of home remodeling encompass do-it-yourself (DIY) and do-it-for-me (DIFM). DIFM remodeling, an abbreviation for "Do-It-For-Me" remodeling, denotes home improvement projects executed by professional contractors or service providers rather than the homeowners themselves. These products are distributed through both online and offline channels and find applications in various areas, including windows and doors, kitchen and bathroom, floor and roof, walls, and other sectors within end-use industries such as residential and commercial.

The home remodeling market research report is one of a series of new reports from The Business Research Company that provides home remodeling optical components market statistics, including home remodeling optical components industry global market size, regional shares, competitors with a home remodeling optical components market share, detailed home remodeling optical components market segments, market trends and opportunities, and any further data you may need to thrive in the home remodeling optical components industry. This home remodeling optical components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The home remodeling market size has grown steadily in recent years. It will grow from $925 billion in 2023 to $970.07 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The expansion observed during the historical period can be attributed to the growth of electronics manufacturing, increased applications in aerospace, a rise in medical device manufacturing, increased adoption of micro welding practices, and a focus on energy efficiency and precision.

The home remodeling market size is expected to see steady growth in the next few years. It will grow to $1164.16 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The anticipated growth in the forecast period can be ascribed to the emergence of fiber lasers, the expansion of the renewable energy sector, a growing demand for lightweight materials, the miniaturization of medical devices, and the increasing adoption of rapid prototyping and small-batch manufacturing. Key trends expected in the forecast period include advancements in laser technology, the integration of automation and robotics, the development of hybrid laser welding systems, customization and flexibility in welding processes, and the integration of artificial intelligence.

The anticipated growth in the construction sector is set to drive the expansion of the home remodeling market in the future. As a pivotal industry encompassing various activities related to building and infrastructure development, the construction sector spans residential and commercial building projects, as well as the creation of infrastructure such as highways, bridges, airports, and public transportation systems. With the growth of the construction sector, there is an increased demand for housing, fostering a more competitive housing market. Consequently, homeowners may opt to renovate their existing homes instead of pursuing new acquisitions. Additionally, advancements in technology and materials within the construction sector may pique homeowners' interest in upgrading their homes. For example, in August 2023, the U.S. Census Bureau reported a 3.7% increase in privately owned residential housing completions, reaching 1,406,000 housing units compared to 1,355,000 in August 2022. Thus, the upswing in the construction sector is a catalyst for the home remodeling market's growth.

The rising pace of urbanization is anticipated to propel the home remodeling market forward. Urbanization, marked by an increasing proportion of the population residing in urban areas, triggers the expansion of urban spaces due to migration from rural to urban regions. This trend fuels the demand for home remodeling as the influx of people into urban centers necessitates efficient, modernized living spaces to accommodate evolving lifestyles and preferences within densely populated environments. In 2021, the United Nations Conference on Trade and Development (UNCTAD) reported a projected increase in the urban population share to 56.5%. Africa, during the same period, experienced a 4.6 percentage point rise. Therefore, the escalating rate of urbanization is a driving force behind the growth of the home remodeling market.

Technological advancements emerge as a prominent trend gaining traction in the home remodeling market. Companies within this sector are adopting new technologies to maintain their competitive edge. For instance, in January 2023, Lennox International Inc., a U.S.-based climate control solutions provider, introduced the Lennox S40 Smart Thermostat, Lennox Smart Air Quality Monitor, and Lennox Smart Room Sensor as part of smart home innovation. The Lennox S40 Smart Thermostat, equipped with Schedule IQ Technology and Smart Away geo-fencing capabilities, ensures efficient operation and energy conservation. The system monitors sensors throughout the house, providing a seamless user experience enhanced by various automation features.

Major players in the home remodeling market are focusing on technological advancements such as technology-enabled home remodeling services to offer a swift, easy, and convenient home remodeling experience. Technology-enabled home remodeling services leverage advanced technologies to enhance various aspects of the remodeling process. For example, in October 2023, West Shore Home, a U.S.-based construction company, introduced cutting-edge technology for rapid 3-D scans of remodeling projects in under a minute, aiming to elevate the home remodeling experience.

In July 2021, Owens Corning, a U.S.-based composite material company, acquired vliepa GmbH for an undisclosed amount. This acquisition expands Owens Corning's global nonwovens portfolio, strengthening its ability to serve European customers and accelerating growth in building and construction market applications in the region. vliepa GmbH, a Germany-based wholesale building materials company, specializes in the production of insulation materials for the construction industry.

Major companies operating in the home remodeling market report are Andersen Corporation, JELD-WEN Holdings Inc., Kohler Co., Pella Corporation, The Home Depot Inc., Dow Inc., Kajaria Ceramics Limited, Lutron Electronics Company, Mohawk Industries Inc., Masco Corporation, Industry Cotto Possagno S.p.A, Seven Group Holdings Limited (Boral Limited), Harvey Industries Inc., Neil Kelly Company, Case Design, ABC Supply Co., Atlas Roofing Corporation, AZEK Building Products Inc., Beacon Roofing Supply Inc., Builders FirstSource Inc., CertainTeed Corporation, Cornerstone Building Brands, CRH plc, Daltile Corporation, Danaher Corporation, Delta Faucet Company, D.R. Horton Inc., Johns Manville Corporation, Ferguson Enterprises LLC, GAF Materials Corporation, Georgia-Pacific LLC, Home Depot Inc., James Hardie Industries plc, Lennar Corporation, Lowe's Companies Inc., Owens Corning, Ply Gem Holdings Inc., Pool Corporation, Power Home Remodeling Group

North America was the largest region in the home remodeling market in 2023. The regions covered in the home remodeling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the home remodeling market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The home remodeling market includes revenues earned by entities by providing services such as constructing, renovating, painting, plumbing and electrifying changes to an existing home's structure, design, or function. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11797

1. Executive Summary

2. Home Remodeling Market Characteristics

3. Home Remodeling Market Trends And Strategies

4. Home Remodeling Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Home Remodeling Market Size and Growth

5.1. Global Home Remodeling Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Home Remodeling Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Home Remodeling Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Home Remodeling Market Segmentation

6.1. Global Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Do-It-Yourself (DIY)
Do-It-For-Me (DIFM)
6.2. Global Home Remodeling Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Online
Offline
6.3. Global Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Windows And Doors
Kitchen And Bathroom
Floor And Roof
Walls
Other Applications
6.4. Global Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Residential
Commercial

7. Home Remodeling Market Regional And Country Analysis

7.1. Global Home Remodeling Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Home Remodeling Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Home Remodeling Market

8.1. Asia-Pacific Home Remodeling Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Home Remodeling Market

9.1. China Home Remodeling Market Overview
9.2. China Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Home Remodeling Market

10.1. India Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Home Remodeling Market

11.1. Japan Home Remodeling Market Overview
11.2. Japan Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Home Remodeling Market

12.1. Australia Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Home Remodeling Market

13.1. Indonesia Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Home Remodeling Market

14.1. South Korea Home Remodeling Market Overview
14.2. South Korea Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Home Remodeling Market

15.1. Western Europe Home Remodeling Market Overview
15.2. Western Europe Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Home Remodeling Market

16.1. UK Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Home Remodeling Market

17.1. Germany Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Home Remodeling Market

18.1. France Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Home Remodeling Market

19.1. Italy Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Home Remodeling Market

20.1. Spain Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Home Remodeling Market

21.1. Eastern Europe Home Remodeling Market Overview
21.2. Eastern Europe Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Home Remodeling Market

22.1. Russia Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Home Remodeling Market

23.1. North America Home Remodeling Market Overview
23.2. North America Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Home Remodeling Market

24.1. USA Home Remodeling Market Overview
24.2. USA Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Home Remodeling Market

25.1. Canada Home Remodeling Market Overview
25.2. Canada Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Home Remodeling Market

26.1. South America Home Remodeling Market Overview
26.2. South America Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Home Remodeling Market

27.1. Brazil Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Home Remodeling Market

28.1. Middle East Home Remodeling Market Overview
28.2. Middle East Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Home Remodeling Market

29.1. Africa Home Remodeling Market Overview
29.2. Africa Home Remodeling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Home Remodeling Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Home Remodeling Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Home Remodeling Market Competitive Landscape And Company Profiles

30.1. Home Remodeling Market Competitive Landscape
30.2. Home Remodeling Market Company Profiles
- 30.2.1. Andersen Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. JELD-WEN Holdings Inc.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Kohler Co.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Pella Corporation
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. The Home Depot Inc.
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Home Remodeling Market Competitive Benchmarking

32. Global Home Remodeling Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Home Remodeling Market

34. Home Remodeling Market Future Outlook and Potential Analysis

34.1 Home Remodeling Market In 2028 - Countries Offering Most New Opportunities
34.2 Home Remodeling Market In 2028 - Segments Offering Most New Opportunities
34.3 Home Remodeling Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer